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<br />SU�QRDINATION AGREEMENT
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<br />THIS AGREEMENT made and executed this 20th day of December, 2010, by and between H�ME FEDERAL SAVINGS ��„ j�
<br />AND LOAN ASS�CIATION OF GRAND ISLANI?, hereinafter referred to as "Subordinating Creditor" (whether one or more), and �
<br />HOME FED�RAL SAVINGS AND LOAN ASSOCIATION OF GRAND ISLAIVD, hereinafter referred to as "Secured Party".
<br />W[TNESS�TH:
<br />WHEREAS, Cindy D Beaman and l�ouglas J Seaman, wife and husband (whether one or more), hereinafter referrad to as
<br />"Debtor", has granted to the Subordinating Creditnr a Mortgage or Deed of Trust dated July 21, 2009, and filed of reco�'d in the office
<br />of the Hall Couaty Register af lleeds, on the 7th day af August, 2009, as Dpcument No. 0200906550 in respect to that real estate
<br />described as:
<br />Lot Twenty One (21), West Bel Air Fifth Subdivision, in the City aFGrand Island, Hall County, Nehraska.
<br />W�REAS, th� Secured Party has agreed to enter into a loan transaction with the Debtor, whereby cercain funds are to be
<br />advanced to the Debtor conditional upon the Uebtor providing the S�cured Party with a first lien in respect ca the abpve described real
<br />estate, hereinafter referred tn as the "Collateral"; and
<br />W�REAS, the Subordinating Creditor is willing to suhordinate any lien it may have in respact to the Collataral by reason of
<br />Subordinating Creditor's Mortgage or Deed of Trust of record to perfect security whenever and wherever filed in order to assure the
<br />Secured Party af a first lien position in and to the Collateral;
<br />NOW, THEREF�RE, it is agreed:
<br />1. Tha Subordinating Creditor hereby cansents ta a subordination of its priority position to the Secured Party and agrees that
<br />its lien in respect to the Mort�age or De�d of Trust hereinabove described, if any, shall at all times he secondary to the extent herein
<br />provided and subject to the lien of the Secured Party in respect to the Collateral.
<br />2. The Subordinating Creditor hereby consents to the Debtor granting Secured P�a'ty a first lien in all the Collateral as
<br />described above to secure indebtedness tn be advanced to Debtor by Secured Party, in the original principal amount of Eighty-Two
<br />thousand dollars and no �0/100 Dol�ars ($ 82,0OO.Op), recorded in the office of the Hall County Registar af Deeds on the �
<br />day of � � �?�b�� , �i� , as Document No. r�� - (�jCf 7Q�' •
<br />3. So long as an obligation is outstanding from the Debtor to tha Secured Party for indebtedness evidenced by Prornissory
<br />Notas or other instruments of indebtedness to the extent herein prpvided in Paragraph 2, the Secured Party's interest in the Collateral
<br />shall have priority to over the lien af the Subordinating Creditor in that Callateral, and the Subordinating Creditor's interest in that
<br />Collateral is, in all respects, subject and subordinate to the security interest of the Secured Fariy to the extent of the principal sum yet
<br />owin�; to Secured Patty in respect to the indebtedness described in Faragraph 2 along with interest and costs allocable thereta,
<br />however evidenced.
<br />4. So lo�tg as any portiott of the described obligation to Secured Party is outstandin�, and unpaid, the provisinns af the I]eed
<br />of Trust of other instrument of security between the Debtor and the Secured Party are controlling as to the Collateral in which Secured
<br />Party is ta have a�irst securtty interest, including any time there is a conflict between it and the provisions of any lien insCrument
<br />granted to the 5ubordinating Creditor by the Debtor.
<br />5. This Agreement is a continuing, absolute and unconditional agreement of subordination without re�ard to the validity or
<br />enforceability of the Promissory Notes or other instruments af indebtedness between the Debtot and the Secured Party evidencin�
<br />sums due or documents granting a security interest in the Coll�teral, irrespective of the time or order of attachment or perfection of the
<br />security interest in the Callateral or the arder of filing the Deeds of Trust or other instruments of sacurity with respect to the Collateral.
<br />6. '�'his Agreement shall retnain in full farce and e#�ect and is binding upon the Subardinating Creditor and upon its
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